Float

What Float does

The product stack is built on a proprietary AI layer branded as Float Intelligence, featuring a Canadian-trained Transaction Coding Agent that assigns GL codes and federal/provincial tax codes (GST, HST, QST) with claimed 95%+ precision — outperforming general-purpose LLMs by roughly 30% — combined with OCR technology that extracts line items from receipts and bills at claimed 99% accuracy. The platform integrates natively with QuickBooks Online, Xero, and NetSuite for one-click accounting export and supports bilingual English/French operations compliant with Quebec Bill 96. Card issuance is delivered through a banking-as-a-service stack with Marqeta as program manager, Peoples Trust issuing the Float Visa Prepaid Card, and Thread Bank issuing the Float Mastercard USD Card; identity verification is handled by Persona. The company operates a developer-facing API for card access and is registered with FINTRAC as a money services business.

Name

Float

Legal name

Float Financial Solutions Inc.

Website

https://floatcard.com

Company type

Private

Operating status

Operating

Short description

Float is a Toronto-based fintech providing corporate cards, business accounts, bill pay, and AI-powered spend management software purpose-built for Canadian businesses across startups, SMBs, and mid-market segments, with native CAD/USD support and Canadian tax automation.

Ownership category

akta.pro rank

Product category

Corporate Cards & Spend Management

NAICS

Credit Card Issuing (52221), Credit Card Issuing (522210), Sales Financing (52222)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Corporate Cards & Expense Solutions (T&E, purchasing, fleet) (FSABAIAG)

akta.pro secondary industry

Charge Cards (FSAKABAE)

Keywords

• Corporate cards
• Spend management
• Business banking
• Expense automation
• Accounts payable

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others, Infrastructure

Revenue model

1. Subscription Fees: Professional plan with annual fees up to $799/year for advanced features. Essentials plan free with basic features. Revenue from subscription tiers based on feature access.
2. Interchange and Cashback: Up to 1% cashback on card spend (after first $25K monthly spend). Interchange revenue from corporate card transactions.
3. Interest on Cash Balances: Earn up to 3.5% interest on CAD and USD cash balances held in business accounts. Variable rates subject to change.
4. FX Fees: Foreign exchange services with up to 90% lower markups than banks for CAD/USD conversion

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels10 records

Core offering

Float provides Canadian businesses with an integrated financial operations platform combining unlimited CAD and USD corporate cards (pre-funded or Charge credit up to $3M), CDIC-insured business accounts with up to 3.5% interest on balances, AI-powered expense management with Canadian tax automation, automated bill pay and reimbursements, and FX at up to 90% lower markups than banks. The offering is sold via a free Essentials tier and a paid Professional tier (up to $799/year), targeting startups through mid-market companies across Canada.

Product overview

Float is an all-in-one financial operations platform for Canadian businesses, combining business banking, corporate cards, AI-powered expense management, and accounts payable in a single platform-plus-modules architecture. The core product suite includes Corporate Cards (unlimited CAD and USD physical and virtual cards with built-in controls), Business Accounts (CDIC-insured with up to 3.5% interest), Expense Management (AI-powered with Canadian tax code automation), Bill Pay (automated AP with free EFT/ACH and wire), Reimbursements (automated employee payouts in CAD and USD), and Foreign Exchange (instant CAD/USD conversion with up to 90% lower fees). The platform layer includes Float Intelligence (AI-powered accounting automation that closes books up to 8x faster), Reporting & Insights (real-time spend visibility), Trust & Security (fraud protection, CDIC/FDIC insurance), and Integrations (native QuickBooks, Xero, NetSuite sync). A sub-product, Charge, provides credit limits up to $3 million as part of the Corporate Cards offering. A mobile app rounds out the platform for on-the-go access.

Differentiator

Problem solved

Functional benefit

Products and services

• Corporate Cards Unlimited physical and virtual CAD and USD corporate cards for Canadian businesses, with built-in spend controls, custom spending limits, and approval workflows. Available as pre-funded or Charge (credit) options with no personal guarantee required.
• Business Accounts CDIC-insured CAD and USD business accounts for Canadian businesses, paying up to 3.5% interest on balances, with no lockups and zero monthly fees. Includes Interac e-Transfer, EFT, and wire transfer capabilities.
• Expense Management Automated expense capture, categorization, receipt matching, and accounting sync software for Canadian businesses. Eliminates manual expense reports and supports Canadian tax codes and multi-component GST/HST tracking.
• Bill Pay Automated accounts payable service for Canadian businesses, with free EFT/ACH and wire transfers in CAD and USD, next-day payment capability, OCR-based line-item extraction, and email-forwarding-triggered AP workflows.
• Reimbursements Automated employee reimbursement service for Canadian businesses, covering out-of-pocket expenses with mobile receipt capture, one-click approvals, and CAD/USD payouts including mileage and per diem claims.
• Foreign Exchange Foreign exchange service for Canadian businesses offering instant CAD and USD conversion at up to 90% lower markups than traditional banks, built into the Float platform for spending and bill payments.
• Float Intelligence AI-powered accounting automation platform that closes books up to 8x faster. Features Canadian-trained AI transaction coding with 95%+ GL and tax code precision, automatic receipt reminders, and one-click export to QuickBooks, Xero, and NetSuite. Targeted at Canadian businesses and finance teams.
• Reporting & Insights Real-time spend visibility and analytics product for finance teams at Canadian businesses, offering spend pattern analytics, transaction-level detail, and custom reporting.

Quantifiable outcome

• Save 7% of total spend
• +6 more outcomes

Named customers16 records

Segments8 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability6 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core.

• Payments CanadacoreStrategic or Co-development Partner · 16 April 2026Joined Payments Canada's Real-Time Rail (RTR) network as new member in Q2 2026, enabling instant fund transfers for Canadian businesses.
• Peoples Trust CompanycoreTechnology or IntegrationIssues Float Visa Prepaid Card pursuant to Visa International licence. Holds funds for Float business accounts in CDIC-member institutions.
• Thread BankcoreTechnology or IntegrationIssues Float Mastercard USD Card, Member FDIC. Banking services provider for USD business accounts.
• MarqetacoreTechnology or IntegrationProgram Manager for the Float card program, providing card issuance infrastructure.
• PersonacoreTechnology or IntegrationIdentity verification partner providing biometric facial geometry scanning and identity verification for fraud prevention.
• QuickBookscoreTechnology or IntegrationAccounting software integration for seamless transaction export and sync.
• XerocoreTechnology or IntegrationAccounting software integration for seamless transaction export and sync.
• NetSuitecoreTechnology or IntegrationAccounting software integration with custom export support.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• SAP Concur: Enterprise expense and travel management incumbent. Float targets Concur-displacement messaging for mid-market Canadian companies seeking simpler, localized expense automation.
• Bill.com: Established AP automation and business payments platform in North America. Competes with Float's Bill Pay and AP automation workflows, particularly for mid-market finance teams.

Direct peers

• Ramp: US-based corporate cards and spend management platform serving SMBs and mid-market. Float runs explicit comparison pages against Ramp, indicating direct head-to-head competition for Canadian multi-product fintech customers.
• Plooto: Canadian AP automation and bill-pay platform. Competes with Float's Bill Pay product and AP workflow features for Canadian SMB and mid-market finance teams.
• Jeeves: Cross-border corporate card and expense platform. Float has dedicated comparison content versus Jeeves, signaling direct overlap in cross-currency corporate cards and spend software.
• Expensify: Expense management and corporate card software with established Canadian customer base. Direct overlap with Float's Expense Management module and receipt-capture AI.
• Brex: Corporate cards and spend management platform with broad business banking features. A primary competitor in the corporate card + expense management category that Float explicitly benchmarks against.

Regional players

• KOHO: Canadian consumer fintech offering prepaid cards and financial accounts. Fellow Payments Canada RTR member; competes for Canadian business-owner wallet share though primarily consumer-led.
• Brim Financial: Canadian fintech offering credit cards and financial services platforms. Fellow Payments Canada RTR member and a domestic competitor with overlapping corporate-card ambitions.

Emerging players

• Wise: Cross-border payments and multi-currency accounts. Fellow Payments Canada RTR member; overlaps with Float's Foreign Exchange product and CAD/USD cross-border business flows.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Float